Status of the Camera Module Industry 2024

Report objectives:

Provide market data on key CCM metrics and dynamics

• CCM forecasts, by revenue, shipments, and components
• Market shares, with detailed breakdown by player and components
• Application focus on key growth areas for CCM

Deliver an in-depth understanding of the CCM value chain, infrastructure, and players

• Who are the CCM players (CIS manufacturers, CCM manufacturers, optics and actuators manufacturers, etc.), and how they are related?
• Who are the key suppliers to watch - and more generally, how will the camera module industry evolve?

Present key technical insight and analysis regarding future technology trends and challenges

• Manufacturing technologies
• Device technologies: CCM applications across markets
• Technology focus on game-changing areas and emerging technologies

Key features:

• 2019-2029 forecast for camera module (Munits, $M).
• Market trends for mobile devices with historical and statistical analysis.
• Market trends for all other market segments (productivity, other consumer, automotive, medical, industrial) with in-depth analysis.
• Player market share by sub-module: camera module assembly, image sensor, lens set, actuator.
• Supply chain and emerging technologies dynamics.
• Technology trends for each sub-module.

What's new? 

• 2024-2029 market forecast update for each market segment.
• Player ranking update for each sub-module market.
• Deeper analysis on the industry supply chain and emerging technologies.

Multi-cameras adoption in Automotive to sustain a 4.0% CAGR by 2029.

In 2023, 6.57 billion camera modules were shipped, marking a slight 0.7% decline versus the previous year. The automotive sector now represents nearly 4% of shipments with 236 million units, reflecting growing camera integration, averaging nearly three per vehicle. While mobile and consumer applications still dominate with a 96% share, other consumer markets like drones, home security, and smart home devices rebounded with 19.8% growth. Despite a smartphone sales dip, total shipments are projected to rise to 8.3 billion units by 2029, driven by smartphone imaging, automotive cameras adoption, medical applications and AR/VR growth. Revenue is expected to climb from $36.0 billion to $45.7 billion. CMOS Image Sensors (CIS) maintain dominance over the total camera module value, while emerging technologies like optical metasurfaces and advanced actuating devices (AF, OIS) will enhance both mobile and automotive imaging. 

Camera module giants LG Innotek and Sony overperforming in a competitive market.

The camera module industry experienced modest growth in 2023 reaching $36.0B (1.3% YoY). Major players like Samsung, AAC Technologies, and Sunny Optical are becoming more vertically integrated, expanding into actuator production and others acquiring firms to stay competitive. Companies like LG Innotek saw growth due to Apple partnerships and the automotive sector, while Sunny Optical and Q Tech struggled with the declining smartphone market. Metasurface technology is emerging as a potential disruptor, reducing costs and simplifying supply chains. The CMOS Image Sensor (CIS) market had mixed results; automotive and high-end markets drove growth for Sony, while slower consumer demand impacted others like Samsung, SK Hynix and Galaxycore. The lens set market declined slightly to $5.16B, while leading companies with high-end products performed well. Actuator sales grew to $2.68B, with Chinese suppliers challenging incumbents with cost-effective solutions, particularly in autofocus actuators. 

High performance imaging and sensing has become a key differentiator.

As consumer market stagnation impacts imaging leaders, companies are focused on enhancing product value and performance, driven by new developments in camera and sensing technologies. Patents landscape, however, constrain manufacturers' options. Zoom functionality has become a key differentiator in high-quality imaging, leading to the widespread adoption of periscopic cameras since their introduction: periscope camera shipments are set to grow from 40 million in 2023 to 100 million by 2029. The CMOS Image Sensor (CIS) industry is evolving, with key advancements in low-light performance, data efficiency, and compactness, led by innovations from both established major leaders and newcomers. Triple-stack sensor architecture has gained traction, while neuromorphic and metasurface technologies are emerging in sectors like biometrics and robotics. Moreover, the emerge of hybrid lenses and breakthroughs like Shape Memory Alloys (SMA) are transforming optics and camera module integration. 

• Report objectives
• Identity card
• Scope of the report
• Methodologies and definitions 
• Imaging activity
• Companies cited
• What we got right, what we got wrong
• Historical forecasts         
• Three-page summary    
• Executive summary
• Context
• Market forecast
• Market trends
  • Mobile and consumer
    • Mobile
    • Productivity
    • Other consumer
  • Automotive and mobility
  • Medical
  • Industrial
  • Conclusion
• Market shares and supply chain
  • Camera module industry supply chain
  • Camera module industry market shares
    • Camera module manufacturing
    • CMOS image sensors
    • Optics lens sets
    • Actuator
  • Ecosystem dynamics by market
  • Conclusion
• Technology trends
  • General trends
  • Camera module assembly
  • CMOS image sensors
  • Optics lens sets
  • Actuator
  • Conclusion
• Outlook
• Yole Group related products
• About Yole Group

AAC Technologies, AGC, Alibaba, Alps, Amazon, Ambu, Ams OSRAM, Analog Devices, Apple, Aptiv, Asia Optical, ASM, Awaiba, BAE Systems, Baidu, BL, BMW, Bosch, Brigates, BYD Semiconductor, Calin Technology, Cambridge Mechatronics, Cammsys, Canon, CEA Leti, Chicony, Cirrus Logic, Coherent, Continental, Corephotonics, Corning, Cowell, Curve-one, Dahua, Denso, DJI, Ecovacs, Ficosa, Foxconn, Fujifilm, Fujitsu, Galaxycore, Genius Optical, Goodix, Google, Gopro, Gpixel, Haesung Optics, Hamamatsu, Hikvision, Himax, Holitech, Honeywell, Honor, Hoya, Hozel, Huaxin, Huawei, IM Co, Immervision, Infineon, Intel, iRobot, Jabil, Jahwa, JBL, Kantatsu, Kappa, Kinko Optical, Kolen, Kura Technologies, Kyocera, Largan, LCE, Leica, Lenovo, LG Innotek, Lumotive, Luxvisions, Magna, Materion, Mcnex, Medigus, Melexis, MEMS Drive, Meta, Metalenz, Microsoft, Mitsumi, Moxtek, Neato Robotics, New Shicoh, Nextlens, Nidec, NILT, NTK, Ofilm, Olympus, Omnivision, Oneplus, Onsemi, Oppo, Optotune, Panasonic, Panasonic Automotive, Parrot, Partron, Pixart, Pixelplus, Pmd, Polight, Powerlogic, Primax, Prophesee, Q Tech, Rayprus, Realme, Ricoh, ROHM Semiconductor, Samsung, Samsung Electro-Mechanics, Schott, Sekonix, Sharp, Sheba Microsystems, Shinetech, Silicon Dynamix, Silina, SK Hynix, Smartsens, Softkinetic, SOInc, Sony, SPY, STMicroelectronics, Sunex, Sunny Optical, Sunwin, Suss Microoptics, Synaptics, Tamron, TDK, Teledyne, Tesla, Toshiba, Toyota, Transsion, Truly, Tunoptix, Valeo, Veoneer, Viavi, Vivo, Volvo, Waymo, Xiaomi, Xperi, Zeiss, Zeon, ZET, ZF, ZTE, and more.